Fill in the blank: Other things constant, the growing availability of college degrees being offered through online programs will tend to ________ the price elasticity of demand for more traditional college degree programs

For most goods, purchases tend to rise with increases in buyers' incomes and to fall with decreases in buyers' incomes. Such goods are known as:

A) inferior goods. B) direct goods. C) normal goods. D) luxury goods.

Figure 4-13

Refer to . The exhibit illustrates the impact of granting a subsidy on a particular good. Which of the following is true for this subsidy given the information provided in the exhibit?
a.
The subsidy has been statutorily (legally) paid to sellers.
b.
The subsidy results in a decrease in the market selling price of the good.
c.
Sellers will receive a larger proportion of the benefit from this subsidy than buyers.
d.
The subsidy results in a reduction in the quantity purchased.